Condensed Statements of Cash Flows (Unaudited) - USD ($) $ in Thousands	9 Months Ended
	Sep. 30, 2024	Sep. 30, 2023
CASH FLOWS FROM OPERATING ACTIVITIES:
Net income (loss)	$ 32,117	$ (66,353)
Adjustments to reconcile net income (loss) to net cash provided by operating activities:
Stock based compensation	334	939
Discount accretion on U.S. Treasury Bills	(3,724)	(521)
Realized (gains) losses on mortgage-backed securities	(510)	0
Unrealized (gains) losses on mortgage-backed securities and U.S. Treasury securities	(73,699)	224,576
Realized and unrealized losses (gains) on derivative instruments	93,902	(111,100)
Changes in operating assets and liabilities:
Accrued interest receivable	(7,917)	(5,797)
Other assets	(159)	(108)
Accrued interest payable	8,433	6,627
Other liabilities	535	441
Due to affiliates	164	121
NET CASH PROVIDED BY OPERATING ACTIVITIES	49,476	48,825
CASH FLOWS FROM INVESTING ACTIVITIES:
Purchases	(196,026)	(97,789)
Sales and maturities	288,242	0
Proceeds from maturity of U.S. Treasury securities, available-for-sale	200,000	37,500
Net (payments on) proceeds from derivative instruments	(126,851)	114,494
NET CASH USED IN INVESTING ACTIVITIES	(1,597,460)	(1,151,718)
CASH FLOWS FROM FINANCING ACTIVITIES:
Proceeds from repurchase agreements	30,279,982	27,780,008
Principal payments on repurchase agreements	(28,754,760)	(26,731,506)
Cash dividends	(64,065)	(59,762)
Proceeds from issuance of common stock, net of issuance costs	223,698	159,438
Common stock repurchases, including shares withheld from employee stock awards for payment of taxes	(3,443)	(4,287)
NET CASH PROVIDED BY FINANCING ACTIVITIES	1,681,412	1,143,891
NET INCREASE IN CASH, CASH EQUIVALENTS AND RESTRICTED CASH	133,428	40,998
CASH, CASH EQUIVALENTS AND RESTRICTED CASH, beginning of the period	200,289	237,219
CASH, CASH EQUIVALENTS AND RESTRICTED CASH, end of the period	333,717	278,217
SUPPLEMENTAL DISCLOSURE OF CASH FLOW INFORMATION:
Interest	163,995	142,965
Collateralized Mortgage-Backed Securities [Member]
CASH FLOWS FROM INVESTING ACTIVITIES:
Purchases	(2,073,150)	(1,443,827)
Sales and maturities	288,242	0
Principal repayments	$ 310,325	$ 237,904